National Bank of Canada Top Holdings and 13F Report (2025)

About National Bank of Canada

National Bank of Canada OTCMKTS: NTIOF has filed 13-F forms with the SEC as an investor. National Bank of Canada is itself a publicly traded company. National Bank of Canada (OTCMKTS: NTIOF) is a full‑service Canadian financial institution headquartered in Montreal, Quebec. The bank offers a broad range of products and services for personal, commercial and institutional clients, including deposit accounts, mortgages and consumer lending, small‑ and medium‑sized business banking, corporate lending, and cash management solutions. For more information on National Bank of Canada stock, visit the National Bank of Canada stock profile here.

Investment Activity

National Bank of Canada has $111.52 billion in total holdings as of June 30, 2025.
National Bank of Canada owns shares of 2,933 different stocks, but just 154 companies or ETFs make up 80% of its holdings.
Approximately 19.24% of the portfolio was purchased this quarter.
About 14.27% of the portfolio was sold this quarter.
This quarter, National Bank of Canada has purchased 2,868 new stocks and bought additional shares in 1,051 stocks.
National Bank of Canada sold shares of 1,058 stocks and completely divested from 339 stocks this quarter.

Largest Holdings

NVIDIA: $6,956,486,568
Apple: $4,567,830,712
Microsoft: $4,406,026,415
Alphabet: $3,090,390,387
Royal Bank Of Canada: $2,611,057,520

Largest New Holdings this Quarter

G0593M107 - AstraZeneca: $417,565,965 Holding
92189F959 - VANECK ETF TRUST: $173,858,265 Holding
76155X100 - Revolution Medicines: $170,090,250 Holding
097023955 - BOEING CO: $154,825,437 Holding
81762P952 - SERVICENOW INC: $148,461,000 Holding

Largest Purchases this Quarter

NVIDIA: 12,980,140 shares (about $2.26B)
NVIDIA CORPORATION: 81,208 shares (about $1.42B)
Apple: 3,707,421 shares (about $940.88M)
Microsoft: 1,989,133 shares (about $736.33M)
ADVANCED MICRO DEVICES INC: 29,471 shares (about $599.53M)

Largest Sales this Quarter

Meta Platforms: 1,198,504 shares (about $685.70M)
Broadcom: 1,405,958 shares (about $435.16M)
Canadian Natural Resources: 6,562,364 shares (about $316.83M)
STATE STR SPDR S&P 500 ETF T: 4,000 shares (about $260.14M)
NETFLIX INC.: 26,386 shares (about $253.70M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
NVDA NVIDIA	$6,956,486,568	$2,263,734,036 â–²	48.2%	39,888,153	6.2%	Technology
AAPL Apple	$4,567,830,712	$940,884,739 â–²	25.9%	17,998,880	4.1%	Technology
MSFT Microsoft	$4,406,026,415	$736,325,880 â–²	20.1%	11,902,573	4.0%	Technology
GOOGL Alphabet	$3,090,390,387	$286,442,078 â–²	10.2%	10,746,678	2.8%	Communication Services
RY Royal Bank Of Canada	$2,611,057,520	$70,310,532 â–¼	-2.6%	16,182,381	2.3%	Finance
TD Toronto Dominion Bank	$2,558,558,239	$167,171,828 â–²	7.0%	27,422,403	2.3%	Finance
AMZN Amazon.com	$2,440,674,514	$193,186,680 â–²	8.6%	11,718,509	2.2%	Consumer Discretionary
GOOG Alphabet	$2,191,291,775	$384,560,582 â–²	21.3%	7,639,013	2.0%	Communication Services
NVIDIA CORPORATION	$2,097,912,637	$1,416,257,581 â–²	207.8%	120,294	1.9%	PUT
TSLA Tesla	$1,985,671,955	$8,944,060 â–²	0.5%	5,341,342	1.8%	Consumer Discretionary
AVGO Broadcom	$1,859,181,767	$435,156,847 â–¼	-19.0%	6,006,872	1.7%	Technology
META Meta Platforms	$1,704,110,359	$685,704,922 â–¼	-28.7%	2,978,516	1.5%	Communication Services
SHOPIFY INC	$1,517,110,731	$401,932,476 â–²	36.0%	12,811,918	1.4%	CL A SUB VTG SHS
MU Micron Technology	$1,460,550,288	$304,545,905 â–²	26.3%	4,323,263	1.3%	Technology
BMO Bank Of Montreal	$1,453,379,792	$32,838,315 â–¼	-2.2%	10,760,298	1.3%	Finance
CM Canadian Imperial Bank of Commerce	$1,225,929,959	$60,365,214 â–¼	-4.7%	12,952,062	1.1%	Finance
MICROSOFT CORP	$1,171,328,931	$576,872,928 â–²	97.0%	31,643	1.1%	PUT
BNS Bank of Nova Scotia	$1,136,350,598	$97,921,384 â–¼	-7.9%	16,409,996	1.0%	Finance
JPM JPMorgan Chase & Co.	$1,087,416,545	$269,240,827 â–²	32.9%	3,696,591	1.0%	Finance
ENB Enbridge	$1,054,009,688	$32,181,654 â–¼	-3.0%	19,496,834	0.9%	Energy
UNH UnitedHealth Group	$1,035,411,250	$401,695,480 â–²	63.4%	3,826,523	0.9%	Healthcare
BN Brookfield	$979,356,118	$47,763,188 â–²	5.1%	24,212,041	0.9%	Finance
AMD Advanced Micro Devices	$918,963,935	$538,144,788 â–²	141.3%	4,517,318	0.8%	Technology
MFC Manulife Financial	$899,650,395	$146,071,035 â–²	19.4%	26,160,388	0.8%	Finance
TESLA INC	$868,036,250	$63,197,500 â–¼	-6.8%	23,350	0.8%	PUT
WALMART INC	$790,230,530	$235,726,810 â–²	42.5%	6,358,346	0.7%	COM
UNITEDHEALTH GROUP INC	$769,179,134	$438,734,626 â–²	132.8%	28,426	0.7%	PUT
ALPHABET INC	$765,182,376	$157,883,836 â–¼	-17.1%	26,646	0.7%	PUT
AEM Agnico Eagle Mines	$739,430,810	$25,250,513 â–¼	-3.3%	3,664,691	0.7%	Materials
PALANTIR TECHNOLOGIES INC	$690,344,935	$84,977,987 â–²	14.0%	4,719,275	0.6%	CL A
CNI Canadian National Railway	$685,842,480	$2,574,040 â–¼	-0.4%	6,685,129	0.6%	Industrials
SU Suncor Energy	$677,008,069	$81,039,588 â–¼	-10.7%	10,249,189	0.6%	Energy
COST Costco Wholesale	$659,706,399	$122,902,800 â–¼	-15.7%	662,080	0.6%	Consumer Staples
HON Honeywell International	$649,105,829	$10,997,105 â–²	1.7%	2,871,751	0.6%	Industrials
AMAZON COM INC	$644,991,363	$38,925,663 â–²	6.4%	30,969	0.6%	PUT
TRP TC Energy	$641,020,764	$52,768,662 â–¼	-7.6%	10,335,091	0.6%	Energy
ADVANCED MICRO DEVICES INC	$630,043,053	$599,528,553 â–²	1,964.7%	30,971	0.6%	PUT
TSM Taiwan Semiconductor Manufacturing	$591,099,341	$342,211,032 â–²	137.5%	1,749,057	0.5%	Technology
CNQ Canadian Natural Resources	$579,576,251	$316,832,467 â–¼	-35.3%	12,004,421	0.5%	Energy
CSCO Cisco Systems	$572,786,942	$56,536,052 â–²	11.0%	7,382,173	0.5%	Technology
LLY Eli Lilly and Company	$570,484,105	$4,157,819 â–¼	-0.7%	620,178	0.5%	Healthcare
BRK.B Berkshire Hathaway	$568,523,828	$20,509,026 â–²	3.7%	1,186,389	0.5%	Finance
CP Canadian Pacific Kansas City	$554,907,764	$1,445,459 â–¼	-0.3%	7,080,217	0.5%	Industrials
BCE BCE	$535,376,934	$7,494,548 â–¼	-1.4%	21,250,639	0.5%	Communication Services
LAM RESEARCH CORP	$528,692,124	$63,742,198 â–²	13.7%	2,474,441	0.5%	COM NEW
NFLX Netflix	$511,288,938	$46,163,988 â–¼	-8.3%	5,317,300	0.5%	Communication Services
BAC Bank of America	$489,926,980	$211,028,260 â–²	75.7%	10,049,780	0.4%	Finance
ORCL Oracle	$434,016,196	$82,809,064 â–¼	-16.0%	2,950,290	0.4%	Technology
JNJ Johnson & Johnson	$423,125,979	$32,320,039 â–¼	-7.1%	1,731,044	0.4%	Healthcare
RCI Rogers Communication	$419,802,782	$44,042,652 â–²	11.7%	10,957,289	0.4%	Communication Services
AZNCF AstraZeneca	$417,565,965	$417,565,965 â–²	New Holding	2,137,511	0.4%	Healthcare
SLF Sun Life Financial	$417,148,093	$22,538,725 â–²	5.7%	6,679,041	0.4%	Finance
WPM Wheaton Precious Metals	$415,604,203	$16,409,699 â–¼	-3.8%	3,175,087	0.4%	Materials
INTC Intel	$406,757,730	$16,417,359 â–²	4.2%	9,217,072	0.4%	Technology
AMAT Applied Materials	$399,350,362	$62,813,886 â–²	18.7%	1,168,471	0.4%	Technology
MA Mastercard	$395,085,240	$1,582,927 â–²	0.4%	790,706	0.4%	Finance
HD Home Depot	$393,577,430	$86,415,844 â–²	28.1%	1,196,798	0.4%	Consumer Discretionary
FTS Fortis	$377,596,604	$30,992,580 â–¼	-7.6%	6,783,283	0.3%	Utilities
WBD Warner Bros. Discovery	$365,206,954	$190,257,347 â–²	108.7%	13,299,527	0.3%	Communication Services
CCJ Cameco	$346,988,993	$16,297,664 â–²	4.9%	3,222,244	0.3%	Energy
PG Procter & Gamble	$344,752,854	$48,939,152 â–²	16.5%	2,386,923	0.3%	Consumer Staples
NTR Nutrien	$341,938,922	$46,386,706 â–¼	-11.9%	4,559,271	0.3%	Materials
ADBE Adobe	$341,453,156	$235,606,786 â–²	222.6%	1,404,690	0.3%	Technology
PEP PepsiCo	$332,746,564	$128,133,165 â–¼	-27.8%	2,142,689	0.3%	Consumer Staples
FNV Franco-Nevada	$331,414,894	$13,208,276 â–²	4.2%	1,353,107	0.3%	Materials
SHOPIFY INC	$325,077,948	$323,891,749 â–²	27,305.0%	27,405	0.3%	PUT
WCN Waste Connections	$323,727,335	$13,960,290 â–¼	-4.1%	1,998,395	0.3%	Industrials
TU TELUS	$307,160,521	$13,264,297 â–²	4.5%	23,930,150	0.3%	Communication Services
V Visa	$298,040,698	$16,600,174 â–²	5.9%	986,253	0.3%	Finance
PALANTIR TECHNOLOGIES INC	$280,140,828	$75,787,668 â–²	37.1%	19,151	0.3%	PUT
MICRON TECHNOLOGY INC	$273,954,456	$231,724,456 â–²	548.7%	8,109	0.2%	PUT
KGC Kinross Gold	$272,080,410	$153,930 â–²	0.1%	8,920,887	0.2%	Materials
UBER Uber Technologies	$270,282,449	$124,298,415 â–²	85.1%	3,757,685	0.2%	Industrials
BA Boeing	$269,806,261	$156,525,782 â–²	138.2%	1,355,604	0.2%	Industrials
QSR Restaurant Brands International	$259,843,425	$20,417,632 â–¼	-7.3%	3,553,001	0.2%	Consumer Discretionary
SPY SPDR S&P 500 ETF Trust	$257,255,093	$29,486,578 â–¼	-10.3%	395,472	0.2%	ETF
PBA Pembina Pipeline	$256,248,201	$26,585,915 â–²	11.6%	5,754,268	0.2%	Energy
QQQ Invesco QQQ	$250,299,653	$33,934,172 â–¼	-11.9%	433,674	0.2%	ETF
XOM ExxonMobil	$249,792,625	$160,379,989 â–¼	-39.1%	1,472,420	0.2%	Energy
PM Philip Morris International	$248,261,932	$75,852,499 â–¼	-23.4%	1,501,531	0.2%	Consumer Staples
NOW ServiceNow	$247,394,464	$163,232,784 â–²	194.0%	2,366,262	0.2%	Technology
KO CocaCola	$246,374,920	$31,593,102 â–²	14.7%	3,239,438	0.2%	Consumer Staples
GDX VanEck Gold Miners ETF	$242,615,633	$183,258,910 â–²	308.7%	2,643,749	0.2%	ETF
ADOBE INC	$241,864,600	$203,871,196 â–²	536.6%	9,950	0.2%	PUT
EXXON MOBIL CORP	$240,051,934	$155,459,458 â–²	183.8%	14,149	0.2%	CALL
GS The Goldman Sachs Group	$236,992,281	$48,023,451 â–²	25.4%	280,146	0.2%	Finance
MRK Merck & Co., Inc.	$235,948,670	$5,517,406 â–¼	-2.3%	1,961,390	0.2%	Healthcare
CVE Cenovus Energy	$233,168,799	$109,128,365 â–¼	-31.9%	8,804,505	0.2%	Energy
RTX RTX	$232,092,805	$25,365,673 â–²	12.3%	1,203,154	0.2%	Industrials
META PLATFORMS INC	$227,993,805	$242,754,759 â–¼	-51.6%	3,985	0.2%	PUT
GILD Gilead Sciences	$225,017,710	$39,799,494 â–¼	-15.0%	1,614,500	0.2%	Healthcare
MCD McDonald's	$224,743,273	$80,535,125 â–¼	-26.4%	723,154	0.2%	Consumer Discretionary
BKNG Booking	$216,880,547	$20,946,608 â–¼	-8.8%	51,511	0.2%	Consumer Discretionary
CELESTICA INC	$215,081,831	$22,974,902 â–¼	-9.7%	765,395	0.2%	COM
CRWD CrowdStrike	$214,545,893	$71,890,490 â–²	50.4%	549,528	0.2%	Technology
DLTR Dollar Tree	$210,282,933	$104,676,438 â–²	99.1%	1,920,239	0.2%	Consumer Staples
KLAC KLA	$207,986,405	$15,767,790 â–¼	-7.0%	141,258	0.2%	Technology
MS Morgan Stanley	$205,244,539	$75,042,900 â–²	57.6%	1,247,157	0.2%	Finance
GIB CGI Group	$204,577,892	$4,102,325 â–¼	-2.0%	2,816,139	0.2%	Technology
ABBV AbbVie	$201,641,030	$198,769,535 â–¼	-49.6%	927,136	0.2%	Healthcare

Showing largest 100 holdings. View all holdings.

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National Bank of Canada Top Holdings and 13F Report (2025)

About National Bank of Canada

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

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National Bank of Canada Top Holdings and 13F Report (2025)

About National Bank of Canada

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Map of 500 Largest Holdings ofNational Bank of Canada

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools